Swiss Re Kappt Gewinnziel: US-Schäden Belasten

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Post on Nov 07, 2024

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Swiss Re Cuts Profit Target: US Damage Weighs Heavily

Swiss Re, the world's second-largest reinsurer, has lowered its profit target for 2023 due to the significant impact of natural disasters in the United States. The company, known for its expertise in risk assessment and reinsurance, has faced substantial losses from severe weather events, including hurricanes and wildfires, across the US.

US Weather Extremes Drive Losses

The recent wave of extreme weather events in the US has been particularly devastating, impacting both property and life. The severity of these events has led to substantial insurance claims, putting pressure on reinsurers like Swiss Re. The company's CEO, Christian Mumenthaler, acknowledged the challenges, stating, "The impact of natural catastrophes in the US has been significant, particularly in the second quarter."

Revised Profit Outlook

In light of these losses, Swiss Re has revised its full-year profit target downwards. The company now expects an operating profit of around $6 billion, significantly lower than the previous guidance of $7 billion. This adjustment reflects the company's cautious approach to navigating the current economic climate and the escalating costs associated with extreme weather events.

Impact on the Reinsurance Industry

Swiss Re's profit cut highlights the growing concerns within the reinsurance industry. The increasing frequency and severity of natural disasters are posing a substantial risk to insurers and reinsurers globally. This trend is likely to lead to higher premiums and more stringent underwriting criteria, potentially impacting the availability and affordability of insurance.

Looking Ahead

Despite the challenges, Swiss Re remains optimistic about its long-term prospects. The company's focus on risk management and its global reach position it strategically to capitalize on future opportunities. However, the changing climate and the growing impact of natural disasters present a significant challenge for the industry.

This development underscores the need for a more comprehensive approach to risk assessment and mitigation. By investing in disaster preparedness, climate resilience, and sustainable practices, the insurance industry can play a critical role in mitigating the impact of extreme weather events and ensuring the long-term stability of the global financial system.